Which of the Following Is a Reason Why Airline Yield

question 256

Multiple Choice

Which of the following is a reason why airline yield management is an effective method to increase revenue?

• A)because airlines have invested heavily in developing computer models that identify optimal pricing strategies in the various market segments
• B)because airlines have successfully induced customers to reveal their resources and preferences by offering them different versions of the product such as business class and coach plane tickets
• C)because a ticket is a contract to transport a specific person, and is not transferable
• D)because airlines have a monopoly in long-distance carriage

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Definitions:

Schemas

Cognitive structures that help individuals organize and interpret information, based on accumulated knowledge and experiences.

Clustering Principle

A concept in psychology that suggests individuals tend to remember similar or related items in groups.

Long-term Memory

The aspect of memory involved in the storage and retrieval of information over an extended period.

Nodes

Points in a network or system where pathways intersect or branch, often used to describe components in a computer network or points within a biological network.